Several officials from the nation's largest public pension funds asked in a letter to SEC Chairman William Donaldson to require companies to tell investors about their political contribution policies and practices. "Shareholders have a right to know how the companies they own are using their money in the political arena," the officials wrote to Mr. Donaldson. "We ask you and your fellow SEC commissioners to let the sun shine on corporate contributions so that the tens of millions of shareholders in America's public companies can know how their money is being used in the nation's political life," they wrote in the letter.
Among those who signed the Aug. 25 letter are state treasurers Phil Angelides of California and Randall Edwards of Oregon, New York state Comptroller Alan Hevesi and New York City Comptroller William C. Thompson Jr. The letter is part of a campaign spearheaded by the Center for Public Accountability to force companies to disclose political donations.